Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
Administration April 8, 2002
401(k) Deferrals, Matches Increase According to PSCA Data
August 28, 2000 (PLANSPONSOR.com) - The average
401(k) salary deferral rate was 5.4% in 1999, up more than
28% from 1991's 4.2% average, according to the Profit
Sharing/401(k) Council of America (PSCA).
Reported by editors@plansponsor.com
The average matching contribution is now more than 3% of pay, while average contributions for “even the youngest active participants” are now approximately 9% of pay, according to PSCA data.
Preliminary data from their 43rd Annual Survey of Plan Practices also indicates that over 77% of plan assets were invested in equities at the end of 1999, compared with approximately 45% at the beginning of the decade.
Sixty-four percent of companies are now using the Internet in plan administration, compared with just 44.1% a year ago.
PSCA’s 43rd Annual Survey of Plan Practices will be released in September.
– Nevin Adams editors@plansponsor.com